In November 2019, Euronext announced the launch of its Euronext Green Bonds Offering across its six regulated markets in Amsterdam, Brussels, Dublin, Lisbon, Oslo and Paris. The Green Bonds Offering was the first product...more
2/11/2020
/ Applications ,
Eligibility ,
EU ,
Euronext ,
Green Bonds ,
Innovation ,
Investment Opportunities ,
London Stock Exchange ,
Luxembourg Stock Exchange ,
Offerings ,
Stock Exchange ,
Sustainable Finance
On 21 July 2019, the remaining provisions of the EU Prospectus Regulation came into force. Since this date, prospectuses for offers of securities to the public or admission to a regulated market in the EU have been required...more
2/10/2020
/ Alternate Performance Measures (APMs) ,
Capital Markets ,
EBITDA ,
EU ,
EU Prospectus Regime ,
European Economic Area (EEA) ,
European Securities and Markets Authority (ESMA) ,
Final Report ,
International Capital Markets Association (ICMA) ,
Public Offerings ,
Risk Factors ,
Technical Standards ,
UK
On 24 October 2019, the Financial Reporting Council (the "FRC"), the regulatory body for auditors, accountants and actuaries, published the UK Stewardship Code 2020 (the "Code"). In its press release, the FRC states that the...more
11/15/2019
/ Accountants ,
Actuaries ,
Asset Management ,
Auditors ,
Corporate Governance ,
EU ,
Financial Reporting Council (FRC) ,
Financial Services Industry ,
Investment Funds ,
Reporting Requirements ,
Service Professionals ,
Shareholder Rights ,
Stewardship Code ,
UK
In a series of votes on 29 January 2019, the parliament of the United Kingdom (the “UK”) rejected proposals aimed at preventing the UK from leaving the European Union (the “EU”) on 29 March 2019 without a Withdrawal Agreement...more
2/4/2019
/ Corporate Issuers ,
Equity Securities ,
EU ,
EU Prospectus Regime ,
EU Transparency Directive ,
European Economic Area (EEA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Foreign Equity Securities ,
HM Treasury ,
Home Member State ,
Host Member State ,
Member State ,
No-Deal Brexit ,
Passporting ,
Securities ,
UK ,
UK Brexit ,
Withdrawal Agreement
In addition to the revised corporate governance code published by the Financial Reporting Council in July 2018 (the “Code”) (which applies to accounting periods beginning on or after 1 January 2019), new legislative reporting...more
2/1/2019
/ Amended Rules ,
CEOs ,
Corporate Governance ,
Directors ,
Executive Compensation ,
Pay Ratio ,
Privately Held Corporations ,
Publicly-Traded Companies ,
Reporting Requirements ,
Share Price ,
The Companies (Miscellaneous Reporting) Regulations 2018 ,
The Companies Act ,
UK
As part of its 13th Programme of Law Reform, the Law Commission published a Consultation Paper1 on the electronic execution of documents on 21 August 2018. Whilst the Law Commission provisionally clarified that existing law...more
A new 2018 version of The UK Corporate Governance Code has been published by the Financial Reporting Council (FRC) following a period of consultation. The new Code is broadly similar to the current 2016 Code, but is in a...more
8/6/2018
/ Amended Rules ,
Board of Directors ,
Companies Act ,
Corporate Culture ,
Corporate Governance ,
Director Nominations ,
Executive Compensation ,
Financial Reporting Council (FRC) ,
Investment Adviser ,
Investors ,
Remuneration ,
Shareholders ,
Succession Planning ,
UK
The UK's Financial Conduct Authority (FCA) published its 19th edition of the Primary Market Bulletin on 11 June, 2018. The FCA is consulting on a proposed update to its existing guidance note on periodic financial information...more
The Hampton-Alexander Review (the “Review”), an independent, business led review supported by the UK Government, has published its ‘one year on’ supplementary report on gender balance in FTSE leadership....more
11/17/2017
/ Board of Directors ,
Corporate Governance ,
Diversity ,
FTSE ,
Gender-Based Pay Discrimination ,
Leadership ,
Pay Gap ,
Performance Reviews ,
Publicly-Traded Companies ,
Reporting Requirements ,
UK ,
Wage and Hour ,
Woman Board Members
The UK referendum on membership of the EU took place just over one year ago (on June 23, 2016). Since then, much has been written by various commentators about the potential consequences for every conceivable industry or...more
As part of its Capital Markets Union action plan, in June 2017 the EU adopted the new Prospectus Regulation (2017/1129), which overhauls the prospectus regime and is intended to improve accessibility to capital markets for...more
From 24 July 2017, UK companies whose shares are admitted to trade on the London Stock Exchange’s AIM market, and other companies listed on prescribed markets, will no longer be exempt from the requirements to keep and...more
7/5/2017
/ AIM ,
Exemptions ,
Limited Liability Partnerships ,
London Stock Exchange ,
Member State ,
Money Laundering ,
New Rules ,
Person with Significant Control (PSC Register) ,
Publicly-Traded Companies ,
Registration Requirement ,
Scotland ,
Stock Exchange ,
Transparency ,
UK ,
UK Companies Acts
The Department for Business, Energy & Industrial Strategy (BEIS) has recently published a Green Paper on options for future corporate governance reform. The Government’s stated objective is to put in place “the right checks...more
12/9/2016
/ BEIS ,
Board of Directors ,
Corporate Governance ,
Executive Compensation ,
Pay Ratio ,
Privately Held Corporations ,
Publicly-Traded Companies ,
Regulatory Reform ,
Remuneration ,
Shareholder Votes ,
Shareholders ,
Transparency ,
UK
1. With effect from April 6, 2016, all companies incorporated or formed under the UK Companies Acts, other than exempt companies (see paragraph 3), and all limited liability partnerships (LLPs) incorporated under the UK...more
UK companies and LLPs will be required to keep a register of people with “significant control” over the company (the “PSC Register”) from 6 April 2016 which will be publically accessible and will need to be filed at Companies...more
The European Commission on 30 November 2015 announced proposals to overhaul the prospectus rules to improve access to finance for companies and simplify information for investors.
The new prospectus regulation forms part...more
Lord Davies of Abersoch published on 29 October 2015, a five year review of his 2011 report aimed at improving the gender balance at the top of British business.
There has been a significant improvement in the...more
The London Stock Exchange (“LSE”) on 15 October 2015 published AIM Notice 421 announcing a consultation in relation to certain proposed changes to the AIM Rules for Companies (“AIM Rules”) potentially affecting “investing...more
The London Stock Exchange ("LSE") on 7 August 2015, published AIM Notice 411 and issued new guidance in Inside AIM2 on certain U.S. securities known as "Regulation S, Category 3 securities," which is intended to improve the...more
The Companies Act 2006 (Amendment of Part 17) Regulations 2015 (the “Regulations”) came into force on 4 March 2015. The Regulations amend section 641 of the Companies Act 2006 to prevent a company from reducing its share...more
The Association of British Insurers (“ABI”) has published guidance on the expectations and views of ABI members on various aspects of equity capital market transactions. The guidance is split into three sections, ‘Initial...more
On 25 June 2014, the Government published the Small Business, Enterprise and Employment Bill. It includes a wide range of measures designed to improve the legislative environment for small businesses and incorporates...more
The Department for Business, Innovation and Skills (BIS) on 21 April 2014 published the UK Government’s response to its discussion paper Transparency & Trust: Enhancing the transparency of UK company ownership and increasing...more
In the wake of recent high-profile corporate governance controversies the UK Financial Conduct Authority (“FCA”) has, this week, issued its proposed new Listing Rules which, when implemented, will give enhanced rights to...more
Background -
The Department for Business, Innovation and Skills (‘BIS’) announced in September 2012 that it had developed proposals with the London Stock Exchange (the ‘LSE’) to attract high growth companies to list...more